HBB_ROMAN_WAY_LIMITED - Accounts

The directors of the company have elected not to include a copy of the income statement within the financial statements.

For the financial year ended 31 December 2022 the company was entitled to exemption from audit under section 479A of the Companies Act 2006 relating to subsidiary companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

HBB Roman Way Limited is a private company limited by shares incorporated in England and Wales. The registered office is 8 Kenyon Road, Lomeshaye Industrial Estate, Nelson, Lancashire, BB9 5SP. The company's principal activities and nature of its operations are disclosed in the directors' report.

The financial statements have been prepared in accordance with Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101) and in accordance with applicable accounting standards.

The financial statements have been prepared on the historical cost basis. The principal accounting policies adopted are set out below.

The company is reliant upon the support oftrue the directors and other companies within its group. The financial statements have been prepared on a going concern basis on the assumption that this finance will continue to be made available to the company. At the date of approval of the company's financial statements the directors confirm that they do not intend to withdraw such financial support for the foreseeable future.

Inventories are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

The company recognises financial debt when the company becomes a party to the contractual provisions of the instruments. Financial liabilities are classified as either 'financial liabilities at fair value through profit or loss' or 'other financial liabilities'.

Other financial liabilities, including borrowings, trade payables and other short-term monetary liabilities, are initially measured at fair value net of transaction costs directly attributable to the issuance of the financial liability. They are subsequently measured at amortised cost using the effective interest method. For the purposes of each financial liability, interest expense includes initial transaction costs and any premium payable on redemption, as well as any interest or coupon payable while the liability is outstanding.

Financial liabilities are derecognised when, and only when, the company’s obligations are discharged, cancelled, or they expire.

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The average monthly number of persons (including directors) employed by the company during the year was:

The directors are remunerated by the shareholder companies.

Borrowings are amounts loaned to the company by its shareholder companies Barnfield Group Limited and Henry Boot Developments Limited. At 31 December 2022 the company owed £285,000 (2021 - £115,000) to Barnfield Group Limited and £285,001 (2021 - £115,001) to Henry Boot Developments Limited.

Borrowings also include an amount loaned from connected company Henry Boot Barnfield Limited of £Nil (2021 - £96,563).

The prior year figures are included in Other payables.